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2. Glossary of Key Financial Accounting Terms

The biggest problem most people have with an unfamiliar area is the vocabulary. They feel uneasy because they don’t know the jargon. Professionals overwhelm the amateurs with confusing words and phrases.

This chapter gives practical definitions of 142 terms used in financial accounting. If you have some grasp of these words and phrases, you will be able to deal with financial accounting and accountants.

In some respects this is the most important chapter. That’s why it is near the beginning of the book, rather than in the back where glossaries are usually found. Being able to cope with these terms will make the rest of the book much easier. It will also make your dealings with financial people and ...

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